Home information packs to be scrapped

Published ¤ 20/05/2010 10:56:30

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The coalition government has suspended the use of Home Information Packs (HIPs) by home sellers.

HIPs were introduced in 2007 in England and Wales, with the aim of speeding up the house selling process by obliging sellers to provide much of the required conveyancing information when properties are first put up for sale.
The Housing Minister, Grant Shapps, said:

"Today the new government is ensuring that home information packs are history. By suspending home information packs today, it means that home sellers will be able to get on with marketing their home without having to shell out hundreds of pounds upfront.

"We are committed to greener housing so from now on all that will be required will be a simple energy performance certificate."
NAEA Chief Executive, Peter Bolton-King, commented:

"The NAEA has long campaigned for HIPs to be scrapped. They have failed to benefit home buyers and actively discouraged sellers. The most recent market report from the NAEA shows that buyers and sellers have returned to the market in 2010 but this decisive policy change will offer further incentive to move.

"We can confidently predict that an end to electoral uncertainty and the abolition of HIPs will provide a substantial boost to the housing market."
Gillian Charlesworth, RICS Director of Communications said:

"HIPs have failed to address the significant problems in the home buying process they were originally supposed to tackle and RICS is pleased that one of the first acts of the new Government has been to clearly show their intention to abolish them.

"There is now the opportunity to start again with a clean slate and come up with innovative proposals to reform the system.

"Rather than seeing the announcement as the death of HIPs it should become the start of a new process that brings real change to people's experience of buying a home."
If you are looking to sell your home, call us for a no-obligation chat about your options, and find out what you are still required to do. Call the number above, or click here to send us a message.

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